Friday, January 31, 2025

The government is pulling the reins on drug prices

Pally News Desk:

When the government is going to take initiative to stop the trend of increasing the price of medicines. It has been decided to update the drug price every year henceforth. The price of any medicine will be mentioned on the website of Bangladesh Medicines Administration Directorate.

This is stated in the draft National Drug Policy, 2016 which was given policy approval by the Cabinet on Monday. After the meeting, Cabinet Secretary Mohammad Shafiul Alam informed this information to the journalists.

Often the demand for a drug tends to increase the price. There are instances of price hikes at times by creating artificial crises. Experts have repeatedly urged the government to take measures to curb this trend.

The cabinet secretary said that there will be no opportunity to charge more than the price list set by the government. If any company tries to keep more than the prescribed price, strict action will be taken against them.

However, it has not been determined what the punishment will be if any company increases the price of medicine by going beyond the government policy. The cabinet secretary said that the government will make a law under the approved policy and the punishment will be written there.

The secretary said that in the draft of the national drug policy, instructions have been given to stop the distribution of adulterated, counterfeit and low-quality drugs. If this policy is implemented, the government hopes that it will be easier to ensure safe medicines at affordable prices.

Professor ABM Farooq of Department of Pharmaceutical Technology of Dhaka University welcomed this initiative of the government. He told Dhaka Times, 'It is definitely a very good initiative. If it works, people will benefit.' This expert urges to keep an eye on this initiative so that it is implemented quickly without falling into bureaucratic complications.

other decisions

The Cabinet meeting established the 'National Human Resource Development Fund' to ensure additional funding for skill development activities. The fund will be managed under the Finance Department.

Besides, a legal structure named National Development Authority has been established under the Prime Minister's Office to coordinate overall programs related to skill development.

The meeting also gave in-principle approval to the draft Cost Management Accountants Act, 2016. It has been governed by martial law-era ordinances. It has now been enacted into Bengal Act.

The policy has increased the amount of punishment. If someone uses the name of the organization for the purpose of cheating, the fine has been increased from Tk 50,000 to Tk 1,000 earlier. And the penalty of five thousand rupees has been increased to one lakh rupees. However, the six-month sentence remains in place.

Apart from this, the Cabinet has given in-principle approval to the draft of the Nazrul Institute Act 2016. It was governed by the 1984 Act. The Act has been brought into Bengal by further streamlining it.

The cabinet also gave in-principle approval to the draft National Sports Council Act 2016. In 1974, the first related law was made. The law has been amended five times so far. There are no significant changes in the new law. But this too has been done in Bengali.

latest news

EN